The organizational modes of banks and microfinance institutions in development: the case of WAEMU countries.

Summary This thesis is articulated around two central questions aimed at explaining why and how complementarity between banks and specialized microfinance institutions (MFIs) should be organized in order to effectively finance development in the countries of the West African Economic and Monetary Union (WAEMU). The banking aspects of Gerschenkron's theory of economic catch-up are adapted to the context of the preponderance of the informal economy in the WAEMU. The empirical analysis shows that the banking and microfinance sectors in WAEMU are respectively resistant and underperforming - in terms of profitability and social impact - in empowering the MBC process. With respect to the implementation of MBC, the neoinstitutionalist framework of the hybridity of the firm is mobilized in order to integrate and clarify the role of the public authority with respect to private financial actors, including mobile banking. Furthermore, international "best practices" in microfinance also serve as empirical and typological references for WAEMU countries, with a view to indirect or direct public coordination of MBC.